Interface (NASDAQ:TILE) CEO Laurel Hurd Sells 7,000 Shares of Company Stock

Interface, Inc. (NASDAQ:TILE) CEO Laurel Hurd sold 7,000 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $36.42, for a total transaction of $254,940.00. Following the completion of the sale, the chief executive officer owned 492,978 shares of the company’s stock, valued at approximately $17,954,258.76. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Laurel Hurd also recently made the following trade(s):

• On Thursday, September 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $34.99, for a total value of $244,930.00.
• On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The shares were sold at an average price of $39.09, for a total value of $273,630.00.

Interface Stock Up 0.2%

TILE stock opened at $36.51 on Wednesday. The business has a 50 day moving average of $35.94 and a 200-day moving average of $32.04. Interface, Inc. has a 12-month low of $24.40 and a 12-month high of $40.50.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24. The business had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. During the same quarter last year, the business posted $0.60 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts expect that Interface, Inc. will post 2.36 EPS for the current year.

Interface Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%.

Hedge Funds Weigh In On Interface

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Interface in the second quarter valued at $338,055,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Interface during the 2nd quarter worth $66,077,000. Reynders McVeigh Capital Management LLC grew its stake in shares of Interface by 11.4% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock worth $17,552,000 after acquiring an additional 50,054 shares during the period. Bank of New York Mellon Corp purchased a new stake in Interface in the 2nd quarter worth about $16,508,000. Finally, Renaissance Technologies LLC increased its holdings in Interface by 107.6% in the 1st quarter. Renaissance Technologies LLC now owns 460,156 shares of the textile maker’s stock worth $11,467,000 after acquiring an additional 238,515 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TILE. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Wall Street Zen downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Interface from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Finally, Barrington Research lifted their price objective on shares of Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Interface has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Interface Company Profile

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.